Piper Sandler Lowers Community Healthcare Trust (NYSE:CHCT) Price Target to $40.00

Posted by on Nov 4th, 2023

Community Healthcare Trust (NYSE:CHCT – Get Free Report) had its target price dropped by equities research analysts at Piper Sandler from $50.00 to $40.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Piper Sandler’s price objective suggests a potential upside of 43.16% from the stock’s previous close.

CHCT has been the topic of several other research reports. Evercore ISI lowered Community Healthcare Trust from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $36.00 to $32.00 in a report on Thursday. StockNews.com began coverage on Community Healthcare Trust in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Robert W. Baird lowered Community Healthcare Trust from an “outperform” rating to a “neutral” rating in a report on Friday, September 22nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.40.

Read Our Latest Report on CHCT

Community Healthcare Trust Price Performance

Shares of CHCT stock opened at $27.94 on Thursday. The business’s fifty day moving average price is $30.04 and its 200 day moving average price is $32.96. Community Healthcare Trust has a 1-year low of $25.81 and a 1-year high of $43.88. The firm has a market capitalization of $761.64 million, a PE ratio of 127.01, a P/E/G ratio of 1.10 and a beta of 0.76.

Community Healthcare Trust (NYSE:CHCT – Get Free Report) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.52). The firm had revenue of $28.74 million during the quarter, compared to analyst estimates of $28.77 million. Community Healthcare Trust had a net margin of 7.69% and a return on equity of 1.66%. During the same period last year, the company posted $0.63 EPS. Equities research analysts expect that Community Healthcare Trust will post 2.52 earnings per share for the current fiscal year.

Institutional Trading of Community Healthcare Trust

Several institutional investors and hedge funds have recently made changes to their positions in CHCT. Bank of New York Mellon Corp lifted its position in shares of Community Healthcare Trust by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 684,945 shares of the real estate investment trust’s stock valued at $28,911,000 after acquiring an additional 8,921 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Community Healthcare Trust by 19.8% during the first quarter. PNC Financial Services Group Inc. now owns 4,822 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 796 shares during the period. Bank of Montreal Can lifted its position in Community Healthcare Trust by 528.2% during the first quarter. Bank of Montreal Can now owns 54,637 shares of the real estate investment trust’s stock worth $2,309,000 after buying an additional 45,939 shares during the period. MetLife Investment Management LLC lifted its position in Community Healthcare Trust by 53.8% during the first quarter. MetLife Investment Management LLC now owns 12,350 shares of the real estate investment trust’s stock worth $521,000 after buying an additional 4,320 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Community Healthcare Trust by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,245 shares of the real estate investment trust’s stock worth $855,000 after buying an additional 2,496 shares during the period. 89.44% of the stock is currently owned by hedge funds and other institutional investors.

Community Healthcare Trust Company Profile

(Get Free Report)

Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in our target sub-markets throughout the United States. As of June 30, 2023, the Company had investments of approximately $991.2 million in 184 real estate properties (including a portion of one property accounted for as a sales-type lease and one property classified as held for sale).

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Analyst Recommendations for Community Healthcare Trust (NYSE:CHCT)

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